Why AMC Entertainment Dropped 5% Today
Shares of theater operator AMC Entertainment Holdings (NYSE: AMC) dropped as much as 8% today before settling with a decline of 5% as of 3 p.m. EST.
The drop brings the cumulative losses in the stock to about 16% in just the last five days.
The rough week for shares of AMC started when some lenders started pushing the troubled company to declare bankruptcy. Today's decline comes as the resurgence of COVID-19 cases is getting worse, and the U.K. said it has a new viral strain spreading.
Source Fool.com